Author: Tatiana Bautzer
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Citigroup CEO sets sweeping management changes, job cuts
By Tatiana Bautzer and Saeed Azhar NEW YORK (Reuters) -Citigroup CEO Jane Fraser announced a major management reorganization on Wednesday that will result in more job cuts and give her more direct oversight over its businesses as she seeks to simplify the bank’s structure. The heads of the bank’s five businesses will now report directly…
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US banking industry starts to pick its battles against new capital rules
By Douglas Gillison, Nupur Anand and Tatiana Bautzer (Reuters) – Now that regulators in Washington have unfurled a hefty reform package of post-financial crisis capital regulations, banking industry advisers are honing in on what they consider most disruptive, including risk management requirements that could affect real estate lending, consumer credit and wealth management. In a…
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UBS goes on hiring spree for wealth managers catering to rich Americans
By Tatiana Bautzer NEW YORK (Reuters) -UBS has gone on a U.S. recruiting drive for wealth managers catering to rich Americans even as it considers culling 30% of its combined global workforce after the takeover of Credit Suisse. UBS recruited 50 financial advisers, including from Bank of America’s Merrill Lynch unit, JPMorgan Chase’s recently acquired…
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Americanas’ billionaire shareholders say they were unaware of accounting problems
By Tatiana Bautzer SAO PAULO (Reuters) – Americanas SA three largest shareholders, the billionaire founders of 3G Capital, said on Sunday they had not known of $4 billion in accounting ‘inconsistencies’ at the Brazilian retailer. In their first official statement since Americanas filed for bankruptcy this month, Jorge Paulo Lemann, Carlos Alberto Sicupira and Marcel…